MPIC’s Pangilinan open to solicited scheme for MRT-3

MPIC’s Pangilinan open to solicited scheme for MRT-3

THE Metro Pacific Investments Corp. (MPIC) may consider submitting a bid for the operations and maintenance (O&M) of Metro Rail Transit Line 3 (MRT-3), in alignment with the Transportation department’s preference for a solicited scheme, its chairman said on Thursday.

“We probably would participate in that. I guess it depends eventually on the terms of reference for the bid that the government will draft,” MPIC Chairman, President, and Chief Executive Officer Manuel V. Pangilinan told reporters.

The Department of Transportation previously announced its intention to reject unsolicited proposals from San Miguel Corp. (SMC) and MPIC for MRT-3’s O&M, opting for a solicited scheme.

SMC was declared the original proponent for the MRT-3’s O&M contract in 2022, followed by another bid from MPIC in September last year.

“In principle [we would submit a bid] because we submitted an unsolicited proposal and the government has decided to bid it out, we will likely participate depending on the terms,” Mr. Pangilinan said.

The Transportation department aims to privatize MRT-3 before the contract expires next year under the build, lease, and transfer (BLT) agreement with MRT-3 operator Sobrepeña-led Metro Rail Transit Corp.

 MPIC is in discussions with SMC for other potential partnerships, with Mr. Pangilinan saying the company is considering submitting a joint proposal for the O&M of MRT-3.

“I think it might be good for us to reach out to SMC and see what we can do. Maybe it will be a joint bid, right? There are ongoing discussions in other areas with them, partnerships,” Mr. Pangilinan said.

Last year, Metro Pacific Tollways Corp., MPIC’s tollways unit, announced a deferral of its initial public offering to 2025, citing ongoing considerations for a joint venture with SMC.

In November, Mr. Pangilinan revealed plans to form a joint venture company with SMC to build expressways, anticipating a significant firm that might be listed on the Philippine Stock Exchange.

MPIC is one of three key Philippine units of Hong Kong-based First Pacific, alongside Philex Mining Corp. and PLDT Inc.

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